Archives from day » 01, October 2009

The South Florida Business Journal reports that there is a great need for venture capital in Florida and tech companies are hoping to expand the CAPCO program to meet this need:

Venture capital lobbyists are preparing a new push to expand Florida’s Certified Capital Company (CAPCO)program, and CyLex of Boca Raton is part of the case they are building for the Florida Legislature.

CyLex is moving toward profitability as an applications service provider for its clients’ Internet operations. The company credits its growth partly to venture capital it has received from a CAPCO fund.

“We look forward to investing in promising companies with solid growth prospects, companies that will create jobs and increase demand for goods and services from other local businesses,” said Steven T. Stull, Advantage’s managing partner. “Experience in several states around the nation have shown that CAPCO investments attract additional venture capital dollars from outside the area to support entrepreneurs and their businesses, resulting in a more diverse and stronger local economy.”